Veeva Systems (VEEV) Price Target Increased to $70.00 by Analysts at Stifel Nicolaus
Veeva Systems (NYSE:VEEV) had its price target boosted by Stifel Nicolaus from $67.00 to $70.00 in a report released on Wednesday morning, Marketbeat Ratings reports. The brokerage currently has a buy rating on the technology company’s stock.
A number of other research firms have also weighed in on VEEV. William Blair restated an outperform rating on shares of Veeva Systems in a report on Wednesday, February 21st. Vetr lowered shares of Veeva Systems from a buy rating to a hold rating and set a $61.05 target price on the stock. in a report on Thursday, February 15th. DA Davidson began coverage on shares of Veeva Systems in a report on Friday, February 2nd. They issued a buy rating and a $75.00 target price on the stock. Zacks Investment Research lowered shares of Veeva Systems from a hold rating to a sell rating in a report on Friday, February 2nd. Finally, Canaccord Genuity restated a buy rating and issued a $70.00 target price on shares of Veeva Systems in a report on Wednesday, December 6th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the stock. The stock currently has a consensus rating of Buy and an average target price of $69.62.
Veeva Systems (VEEV) opened at $73.77 on Wednesday. The stock has a market cap of $10,430.00, a PE ratio of 80.18, a PEG ratio of 5.52 and a beta of 1.46. Veeva Systems has a 1 year low of $43.49 and a 1 year high of $74.12.
In other Veeva Systems news, Director Paul J. Sekhri sold 10,971 shares of the stock in a transaction dated Thursday, December 7th. The shares were sold at an average price of $53.83, for a total value of $590,568.93. Following the completion of the sale, the director now owns 27,438 shares in the company, valued at approximately $1,476,987.54. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CFO Timothy S. Cabral sold 50,000 shares of the stock in a transaction dated Monday, December 18th. The shares were sold at an average price of $55.74, for a total transaction of $2,787,000.00. Following the completion of the sale, the chief financial officer now owns 50,000 shares of the company’s stock, valued at approximately $2,787,000. The disclosure for this sale can be found here. In the last quarter, insiders sold 171,039 shares of company stock valued at $9,802,533. Company insiders own 19.17% of the company’s stock.
Large investors have recently bought and sold shares of the business. Cerebellum GP LLC purchased a new stake in Veeva Systems in the 4th quarter valued at about $129,000. American International Group Inc. purchased a new stake in Veeva Systems in the 4th quarter valued at about $142,000. Northwestern Mutual Wealth Management Co. increased its stake in Veeva Systems by 154.3% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 3,176 shares of the technology company’s stock valued at $176,000 after buying an additional 1,927 shares during the last quarter. Van Hulzen Asset Management LLC purchased a new stake in Veeva Systems in the 3rd quarter valued at about $204,000. Finally, HL Financial Services LLC purchased a new stake in Veeva Systems in the 4th quarter valued at about $210,000. Hedge funds and other institutional investors own 69.55% of the company’s stock.
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Veeva Systems Company Profile
Veeva Systems Inc (Veeva) is a provider of cloud-based software solutions for the global life sciences industry. The Company offers solutions for a range of requirements within life sciences companies, including multichannel customer relationship management, regulated content and information management, master data management and customer data.
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